STUDIO LEGIS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
STUDIO LEGIS
Largest movements
- Current investments +€137,000
up €137,000 (+19.9%), from €689,000 to €826,000
- Cash -€96,581
down €96,581 (-46.5%), from €207,556 to €110,974
mainly Current investments (-€137,000) and Receivables within one year (-€89,267)
- Receivables within one year +€89,267
up €89,267 (+54.3%), from €164,271 to €253,538
of which Other amounts receivable: +€74,340
- Reserves +€165,214
up €165,214 (+15.5%), from €1.1m to €1.2m
- Tax, wage and social debts -€87,739
down €87,739 (-64.7%), from €135,543 to €47,804
- Current portion of long-term debt +€20,020
up €20,020 (+21.0%), from €95,185 to €115,205
- Trade debts +€16,238
up €16,238 (+131.7%), from €12,325 to €28,563
- Gross operating margin -€173,661
down €173,661 (-41.7%), from €415,990 to €242,330
- Taxes -€52,854
down €52,854 (-41.5%), from €127,474 to €74,620
- Financial income +€5,278
up €5,278 (+28.4%), from €18,611 to €23,889
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,326,126 | €1,445,633 | +€119,507 | +9.0% |
| Fixed assets | 21/28 | €137,005 | €126,749 | -€10,256 | -7.5% |
| Tangible fixed assets | 22/27 | €137,005 | €126,749 | -€10,256 | -7.5% |
| Furniture and vehicles | 24 | €62,209 | €58,761 | -€3,449 | -5.5% |
| Other tangible fixed assets | 26 | €74,795 | €67,988 | -€6,807 | -9.1% |
| Current assets | 29/58 | €1,189,121 | €1,318,884 | +€129,763 | +10.9% |
| Amounts receivable after more than one year | 29 | €119,825 | €119,825 | = | 0.0% |
| Other amounts receivable | 291 | €119,825 | €119,825 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €164,271 | €253,538 | +€89,267 | +54.3% |
| Trade receivables | 40 | €127,952 | €142,880 | +€14,927 | +11.7% |
| Other amounts receivable | 41 | €36,318 | €110,658 | +€74,340 | +204.7% |
| Current investments | 50/53 | €689,000 | €826,000 | +€137,000 | +19.9% |
| Cash at bank and in hand | 54/58 | €207,556 | €110,974 | -€96,581 | -46.5% |
| Deferred charges and accrued income | 490/1 | €8,470 | €8,547 | +€77 | +0.9% |
| Total equity and liabilities | 10/49 | €1,326,126 | €1,445,633 | +€119,507 | +9.0% |
| Equity | 10/15 | €1,080,201 | €1,245,415 | +€165,214 | +15.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,067,801 | €1,233,015 | +€165,214 | +15.5% |
| Distributable reserves | 133 | €1,067,801 | €1,233,015 | +€165,214 | +15.5% |
| Amounts payable | 17/49 | €245,924 | €200,218 | -€45,706 | -18.6% |
| Amounts payable within one year | 42/48 | €245,774 | €199,626 | -€46,149 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €95,185 | €115,205 | +€20,020 | +21.0% |
| Trade debts | 44 | €12,325 | €28,563 | +€16,238 | +131.7% |
| Suppliers | 440/4 | €12,325 | €28,563 | +€16,238 | +131.7% |
| Taxes, remuneration and social security | 45 | €135,543 | €47,804 | -€87,739 | -64.7% |
| Taxes | 450/3 | €135,543 | €47,804 | -€87,739 | -64.7% |
| Other amounts payable | 47/48 | €2,721 | €8,054 | +€5,333 | +196.0% |
| Accrued charges and deferred income | 492/3 | €150 | €592 | +€442 | +294.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,519 | €13,613 | -€906 | -6.2% |
| Other operating charges | 640/8 | €1,235 | €2,344 | +€1,110 | +89.9% |
| Non-recurring operating charges | 66A | €1,310 | €190 | -€1,120 | -85.5% |
| Gross operating margin | 9900 | €415,990 | €242,330 | -€173,661 | -41.7% |
| Operating profit (loss) | 9901 | €398,927 | €226,182 | -€172,745 | -43.3% |
| Financial income | 75/76B | €18,611 | €23,889 | +€5,278 | +28.4% |
| Recurring financial income | 75 | €18,611 | €23,889 | +€5,278 | +28.4% |
| Financial charges | 65/66B | €9,698 | €10,237 | +€539 | +5.6% |
| Recurring financial charges | 65 | €9,698 | €10,237 | +€539 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €407,839 | €239,834 | -€168,005 | -41.2% |
| Income taxes | 67/77 | €127,474 | €74,620 | -€52,854 | -41.5% |
| Profit (loss) for the period | 9904 | €280,365 | €165,214 | -€115,152 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €280,365 | €165,214 | -€115,152 | -41.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.